United Kingdom: Modified Starches Market 2024

Modified Starches Market Size in the UK

In 2022, after two years of decline, there was significant growth in the UK modified starches market, when its value increased by 25% to $X. In general, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Modified starches consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Modified Starches Production in the UK

In value terms, modified starches production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year. Modified starches production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from the UK

After three years of decline, shipments abroad of dextrins and other modified starches increased by 31% to X tons in 2022. Overall, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, modified starches exports rose significantly to $X in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when exports increased by 15% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for modified starches exports from the UK, with a 34% share of total exports. Moreover, modified starches exports to Germany exceeded the volume sent to the second major destination, the United States (X tons), threefold. Ireland (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+22.1% per year) and Ireland (-3.0% per year).

In value terms, Germany ($X), the United States ($X) and Ireland ($X) constituted the largest markets for modified starches exported from the UK worldwide, with a combined 54% share of total exports. Singapore, France, Mexico, Canada, Spain, Turkey, Italy, the Netherlands, Egypt and Norway lagged somewhat behind, together comprising a further 28%.

In terms of the main countries of destination, Mexico, with a CAGR of +30.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, falling by -15.9% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, modified starches export price increased by +44.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then declined notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into the UK

In 2022, purchases abroad of dextrins and other modified starches decreased by -4% to X tons, falling for the third year in a row after two years of growth. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 15%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, modified starches imports soared to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), France (X tons) and Germany (X tons) were the main suppliers of modified starches imports to the UK, together accounting for 63% of total imports. Italy, Belgium, the United States, Austria and Slovakia lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +28.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest modified starches suppliers to the UK were the Netherlands ($X), France ($X) and Germany ($X), together comprising 58% of total imports. The United States, Belgium, Italy, Austria and Slovakia lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Austria, with a CAGR of +26.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, with an increase of 49% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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